WallStSmart

Fortinet Inc (FTNT)vsNETCLASS TECHNOLOGY INC Class A Ordinary Shares (NTCL)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 60069% more annual revenue ($7.53B vs $12.51M). FTNT leads profitability with a 28.2% profit margin vs -94.6%. FTNT earns a higher WallStSmart Score of 71/100 (B).

FTNT

Strong Buy

71

out of 100

Grade: B

Growth: 8.7Profit: 9.5Value: 5.3Quality: 6.0
Piotroski: 5/9Altman Z: 1.50

NTCL

Hold

41

out of 100

Grade: D

Growth: 6.0Profit: 2.0Value: 5.0Quality: 3.0
Piotroski: 1/9Altman Z: -2.24
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FTNTUndervalued (+44.5%)

Margin of Safety

+44.5%

Fair Value

$276.73

Current Price

$172.78

$103.95 discount

UndervaluedFair: $276.73Overvalued

Intrinsic value data unavailable for NTCL.

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FTNT6 strengths · Avg: 9.0/10
Return on EquityProfitability
136.7%10/10

Every $100 of equity generates 137 in profit

Operating MarginProfitability
33.6%10/10

Strong operational efficiency at 33.6%

Market CapQuality
$114.35B9/10

Large-cap with strong market position

Profit MarginProfitability
28.2%9/10

Keeps 28 of every $100 in revenue as profit

Revenue GrowthGrowth
25.6%8/10

Revenue surging 25.6% year-over-year

EPS GrowthGrowth
43.9%8/10

Earnings expanding 43.9% YoY

NTCL2 strengths · Avg: 10.0/10
Price/BookValuation
0.6x10/10

Reasonable price relative to book value

Revenue GrowthGrowth
74.0%10/10

Revenue surging 74.0% year-over-year

Areas to Watch

FTNT4 concerns · Avg: 3.0/10
PEG RatioValuation
2.204/10

Expensive relative to growth rate

Altman Z-ScoreHealth
1.504/10

Distress zone — elevated risk

P/E RatioValuation
56.5x2/10

Premium valuation, high expectations priced in

Price/BookValuation
81.9x2/10

Trading at 81.9x book value

NTCL4 concerns · Avg: 3.0/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$3.09M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
1/93/10

Weak financial health signals

Return on EquityProfitability
-172.0%2/10

ROE of -172.0% — below average capital efficiency

Comparative Analysis Report

WallStSmart Research

Bull Case : FTNT

The strongest argument for FTNT centers on Return on Equity, Operating Margin, Market Cap. Profitability is solid with margins at 28.2% and operating margin at 33.6%. Revenue growth of 25.6% demonstrates continued momentum.

Bull Case : NTCL

The strongest argument for NTCL centers on Price/Book, Revenue Growth. Revenue growth of 74.0% demonstrates continued momentum.

Bear Case : FTNT

The primary concerns for FTNT are PEG Ratio, Altman Z-Score, P/E Ratio. A P/E of 56.5x leaves little room for execution misses.

Bear Case : NTCL

The primary concerns for NTCL are EPS Growth, Market Cap, Piotroski F-Score.

Key Dynamics to Monitor

FTNT profiles as a growth stock while NTCL is a hypergrowth play — different risk/reward profiles.

NTCL is growing revenue faster at 74.0% — sustainability is the question.

FTNT generates stronger free cash flow (966M), providing more financial flexibility.

Monitor SOFTWARE - INFRASTRUCTURE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

FTNT scores higher overall (71/100 vs 41/100), backed by strong 28.2% margins and 25.6% revenue growth. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Fortinet Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Fortinet (Nasdaq: FTNT) is an American multinational corporation headquartered in Sunnyvale, California. It develops and sells cybersecurity solutions, including but not limited to physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.

NETCLASS TECHNOLOGY INC Class A Ordinary Shares

TECHNOLOGY · SOFTWARE - APPLICATION · USA

NetClass Technology Inc, offers IT solutions to schools, corporations, other institutions, and corporate customers in the People's Republic of China.

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